Q:
A:
€273.8m loan for road rehabilitation provided
Belgrade,
28 November 2013
Minister of Finance Lazar Krstic signed, on behalf of the Serbian government, agreements with the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the World Bank (WB) on a joint project of the rehabilitation of roads and improving road safety between the Republic of Serbia and the three banks worth €273.8 million.
Author:
Tanjug
The Ministry of Finance said that the total value of the project amounts to €390 million, and that the Republic of Serbia will allocate €116.2 million over the next five years, while the EBRD and the EIB will provide €100 million each and the World Bank €73.8 million.
The road rehabilitation project covering 1,100 kilometres of existing roads through Serbia will be implemented over the next five years, and the project is expected to begin in the second half of 2014.
The project of rehabilitation of the road network will allow economic growth, stimulate the private sector and contribute to the overall economic connectivity in the region, the statement added.
The road rehabilitation project covering 1,100 kilometres of existing roads through Serbia will be implemented over the next five years, and the project is expected to begin in the second half of 2014.
The project of rehabilitation of the road network will allow economic growth, stimulate the private sector and contribute to the overall economic connectivity in the region, the statement added.
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